The boards of Alliance Trust and RIT Capital have confirmed informal discussions about a merger between the two investment trusts but said further analysis needs to be carried out before a formal offer can be made.
Reports of merger talks first surfaced at the weekend when the FT reported the board of Alliance Trust had been approached by Lord Rothschild (pictured), chairman of RIT Capital, in recent weeks about combining the two investment trusts. This was followed by a statement from Alliance Trust on Monday that said its board had received "an informal proposal for a merger of the two companies," but added that "no detailed terms have been provided". This morning, a statement from RIT said "the possibility of combining the two companies for the benefit of both sets of shareholders is at a ver...
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